Sep, 30, 2025 — GRANITE FEDERAL CREDIT UNION is a federal credit union headquartered in SALT LAKE CITY, UT with 11 branch locations and about $913.63 million in total assets. Opened 40 years ago in 1986, GRANITE FEDERAL CREDIT UNION has about 39,050 members and employs 140 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GRANITE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3675 S 900 E SALT LAKE CITY, UT 84106 |
| Phone: | (801) 288-3000 |
| Fax: | (801) 288-3051 |
| Website: | https://www.granite.org |
| Branches: | 11 branch locations |
| Members: | 39,050 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24726 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1986 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $913,630,758 |
| CEO/Manager: | Mark L Young |
| Chairperson: | Paul Edmunds |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 66,156,084 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 525,110,047 |
| Unsecured Loans | 11,248,271 |
| Other Loans | 153,032,807 |
| TOTAL LOANS | 689,391,125 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,515,089 |
| Land And Building | 11,298,191 |
| Other Fixed Assets | 4,868,289 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 6,599,872 |
| All Other Assets | 0 |
| TOTAL ASSETS | 913,630,758 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 70,500,000 |
| Accounts Payable & Other Liabilities | 10,845,641 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 111,895,289 |
| Regular shares | 119,726,834 |
| All Other Shares & Deposits | 518,728,091 |
| TOTAL SHARES & DEPOSITS | 750,350,213 |
| TOTAL LIABILITIES | 831,702,206 |
| Regular Reserve | 0 |
| Other Reserves | 5,981,013 |
| Undivided Earnings | 75,947,539 |
| TOTAL EQUITY | 81,928,552 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 913,630,758 |
| INCOME & EXPENSE | |
| Loan Income | 28,610,419 |
| Investment Income | 4,072,806 |
| Other Income | 2,433,827 |
| Total Employee Compensation & Benefits | 8,150,773 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 8,811,849 |
| Non-operating Income & (Expense) | 791,874 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,522,493 |
| Cost of Funds | 15,877,166 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,897,200 |
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